How to Start a CBD Franchise: Costs, Opportunities, and Trends
Explore Your CBD Store franchise—a leading CBD franchise. Learn about their products, franchise costs, growth potential, and competition in the CBD and cannabis industry. Discover if this franchise is the right fit for you.
Table of Contents:
Introduction
Today, I want to explore one of the most popular CBD franchises, Your CBD Store. We’ll cover what this franchise is all about, franchise costs, and their growth trajectory.
Product Offerings
Your CBD Store offers herbal nutritional supplements containing CBD derived from industrial hemp. Other products include:
- Capsules
- Dissolvable supplements
- Medicated cosmetics
- Other health products
Industry Overview
Although Your CBD Store is growing, it remains relatively small compared to the larger cannabis industry, which has a multi-billion-dollar market for both recreational and medical sales.
Competition
The main competitors of Your CBD Store include:
- CBD Authority
- CBD American Shaman
Additionally, Your CBD Store indirectly competes with the recreational and medical marijuana industries.
Franchise Fee & Investment Amount
The initial franchise fee for Your CBD Store is quite reasonable:
- Franchise Fee: $5,000 for a single location, which is much lower compared to the typical $25,000 for a retail products and service franchise.
- Investment Range: $63,000 to $82,000, including working capital.
Locations
Your CBD Store is a new and rapidly growing brand, with 162+ locations opening in 2020. The CBD industry is expected to continue growing, driven by changing legal barriers and increasing consumer acceptance. However, due diligence is crucial as the franchise scales up.
Conclusion
If you are considering investing in a CBD-related franchise, do thorough research. Speak to at least five franchisees about:
- The number of locations they have and plan to open
- Financial performance and franchise support
The CBD industry has a lot of buzz, but it’s important to determine whether it’s a passing trend. Carefully evaluate the Your CBD Store franchise, its growth plan, and the level of support offered by the franchisor.
